The global essential oils market was valued at $10,886.80 million in 2020, and is projected to reach $24,721.60 million by 2030, growing at a CAGR of 8% from 2021 to 2030. Essential oils, also known as volatile oils, aetherolea, or ethereal oils, are derived from leaves, stems, flowers, bark, roots, or other parts of a plant. They are obtained from various herbs and plants, such as orange, eucalyptus, cornmint, peppermint, citronella, lemon, lime, clove, and spearmint, using distillation methods such as steam and water distillation. These oils contain volatile aroma compounds and real essence of the plant from which they are derived. Essential oils are primarily used in cosmetics & toiletries, food items, and beverages.
The major factor that boosts the market growth is the increase in consumer preference for natural and organic products, be it cosmetics, food, or similar other product categories. This in turn, has led the manufacturers operating in such industries to develop products that contain natural additives. Thus, rise in usage of essential oils among various end-user industries coupled with factors such as rapid industrialization, increase in disposable income, and improved standards of living in emerging economies, supplement the market growth.
The factors that restrict the market growth are high price of essential oils, availability of synthetic substitutes, and limited availability of raw materials. Government support and favorable regulations are expected to offer lucrative opportunities for market growth. Moreover, steady rise in demand for natural aromatic fragrances and flavors in spa and relaxation applications along with cosmetics and perfumes is anticipated to promote the demand for essential oils during the forecast period.
The market players, such as doTERRA International and Moksha Lifestyle Products, are developing a wide variety of essential oils, such as ginger oil, basil seeds oil, and others, to cater to the increase in demand for essential oils in different industries.
The essential oils market is segmented on the basis of product type, application, and region. The product type segment is further classified into orange, eucalyptus, cornmint, peppermint, citronella, lime, lemon, clove, spearmint, and others. The orange oil segment accounted for the maximum revenue share in 2020 and is anticipated to consolidate its position during the forecast period, owing to its anti-inflammatory, antidepressant, and antispasmodic product characteristics.
In addition, the food & beverage industry majorly uses orange oil due to its fresh smell and juicy flavor. By application, the essential oils market is classified into food & beverages, medical, cleaning & home, spa & relaxation, and others. Personal care & cosmetics is estimated be the fastest growing application segment, closely followed by the applications of essential oils in pharmaceuticals.
Other applications, such as home cleaning products and textile products where essential oil serves as sweet-smelling mixes, and healthy substitutes for synthetic products are anticipated to witness sustainable development in future. By region, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA. The prominent players analyzed in this report include doTERRA International, Biolandes, Sydney Essential Oils Co. Pty Ltd., Young Living Essential Oils, Farotti SRL, The Lebermuth Company, Essential Oils of New Zealand, H.Reynaude & Fils, Moksha Lifestyle Products, and West India Species, Inc.
The major factor that boosts the market growth is the increase in consumer preference for natural and organic products, be it cosmetics, food, or similar other product categories. This in turn, has led the manufacturers operating in such industries to develop products that contain natural additives. Thus, rise in usage of essential oils among various end-user industries coupled with factors such as rapid industrialization, increase in disposable income, and improved standards of living in emerging economies, supplement the market growth.
The factors that restrict the market growth are high price of essential oils, availability of synthetic substitutes, and limited availability of raw materials. Government support and favorable regulations are expected to offer lucrative opportunities for market growth. Moreover, steady rise in demand for natural aromatic fragrances and flavors in spa and relaxation applications along with cosmetics and perfumes is anticipated to promote the demand for essential oils during the forecast period.
The market players, such as doTERRA International and Moksha Lifestyle Products, are developing a wide variety of essential oils, such as ginger oil, basil seeds oil, and others, to cater to the increase in demand for essential oils in different industries.
The essential oils market is segmented on the basis of product type, application, and region. The product type segment is further classified into orange, eucalyptus, cornmint, peppermint, citronella, lime, lemon, clove, spearmint, and others. The orange oil segment accounted for the maximum revenue share in 2020 and is anticipated to consolidate its position during the forecast period, owing to its anti-inflammatory, antidepressant, and antispasmodic product characteristics.
In addition, the food & beverage industry majorly uses orange oil due to its fresh smell and juicy flavor. By application, the essential oils market is classified into food & beverages, medical, cleaning & home, spa & relaxation, and others. Personal care & cosmetics is estimated be the fastest growing application segment, closely followed by the applications of essential oils in pharmaceuticals.
Other applications, such as home cleaning products and textile products where essential oil serves as sweet-smelling mixes, and healthy substitutes for synthetic products are anticipated to witness sustainable development in future. By region, the market is categorized into North America, Europe, Asia-Pacific, and LAMEA. The prominent players analyzed in this report include doTERRA International, Biolandes, Sydney Essential Oils Co. Pty Ltd., Young Living Essential Oils, Farotti SRL, The Lebermuth Company, Essential Oils of New Zealand, H.Reynaude & Fils, Moksha Lifestyle Products, and West India Species, Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, Essential Oils Market Trends, estimations, and dynamics of the essential oils market analysis from 2020 to 2030 to identify the prevailing Essential Oils Market Opportunity
- The market research is offered along with information related to key drivers, Essential Oils Market demand restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the essential oils market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global essential oils market, key players, market segments, application areas, and Growth strategies.
Key Market Segments
By Application
- Food And Beverages
- Medical
- Cleaning And Home
- Spa And Relaxation
- Others
By Distribution Channel
- Retail Distribution
- Direct Distribution
- Mlm Distribution
By Type
- Orange
- Eucalyptus
- Cornmint
- Peppermint
- Citronella
- Lemon
- Lime
- Clove
- Spearmint
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Indonesia
- Malaysia
- South Korea
- Singapore
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Turkey
- UAE
- Rest of LAMEA
Key Market Players
- MOKSHA LIFESTYLE PRODUCTS
- THE LEBERMUTH COMPANY
- WEST INDIA SPICES INC.
- YOUNG LIVING ESSENTIAL OILS
- BIOLANDES
- SYDNEY ESSENTIAL OIL CO.
- DTERRA INTERNATIONAL LLC
- FAROTTI ESSENZ SRL
- ESSENTIAL OILS OF NEW ZEALAND LTD.
- H. REYNAUD and FILS
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: ESSENTIAL OILS MARKET, BY TYPE
CHAPTER 5: ESSENTIAL OILS MARKET, BY APPLICATION
CHAPTER 6: ESSENTIAL OILS MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 7: ESSENTIAL OILS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Essential oils Market,' the essential oils market was valued at $10,886.50 million in 2020, and is estimated to reach $24,735.11 million by 2030, growing at a CAGR of 8% from 2021 to 2030.Essential oils are generally extracted by distillation process, often by using steam. Other processes used in the production of essential oils are expression, solvent extraction, absolute oil extraction, cold pressing, and resin tapping. Essential oils find usage in perfumes, cosmetics, soaps, and various other products, for flavoring food & drink, and for adding scents to incense and household cleaning products. Essential oils are distinguished from the fatty vegetable oils, such as canola and sunflower, by the fact that they evaporate or volatize in contact with the air and usually possess a strong aroma.
These products are complex mixtures of organic chemicals, the nature and relative proportions of which are determined by the genetics of the plant species, environmental factors (e.g. climate), agricultural factors (e.g. soil conditions, nutrition, time and conditions of harvesting and methods of post-harvest handling), and manner of extraction. The chemicals present in essential oils may be classified as follows:
- Hydrocarbons of the general formula (C5H6)n-terpenes
- Oxygenated derivatives of these hydrocarbons
- Aromatic compounds having a benzenoid structure
- Compounds containing sulfur or nitrogen
The global essential oils market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia Pacific leads in terms of market share for 2020, and is forecasted to grow with significant growth during the forecast period owing to growing disposable income, extensive advertising and promotion, and large scale urbanization. China along with India and South East Asian countries is expected to witness increased demand for essential oils in the coming years.
The global report is studied on the basis of product, application and distribution channel. By product, the market is divided into essential oils are segmented into orange, eucalyptus, cornmint, peppermint, citronella, lemon, lime, clove, spearmint, and others. By application, the market is divided into food & beverages, medical, cleaning & home, spa & relaxation, and others. By distribution channel, the market is studied across direct distribution, MLM distribution and retail distribution.
The prominent players analyzed in this report include doTERRA International, Biolandes, Sydney Essential Oils Co. Pty Ltd., Young Living Essential Oils, Farotti SRL, The Lebermuth Company, Essential Oils of New Zealand, H.Reynaude & Fils, Moksha Lifestyle Products, and West India Species, Inc.
Key Findings
By product, orange essential oil has the largest market share in the year 2020 and is further expected to grow with the highest CAGR during the forecast period.By application, food & beverage is the most commonly consumed form of essential oils, however, the usage of essential oils in cleaning & home products will grow in the future.
By distribution channel, the most common method of purchase of essential oils is via direct distribution channels while retail distribution channels are gaining more popularity for essential oils purchase.
By region, North America region is the largest consumers of essential oils products, however Asia-Pacific is expected to grow at the highest CAGR during the forecast period.
Companies Mentioned
- MOKSHA LIFESTYLE PRODUCTS
- THE LEBERMUTH COMPANY
- WEST INDIA SPICES INC.
- YOUNG LIVING ESSENTIAL OILS
- BIOLANDES
- SYDNEY ESSENTIAL OIL CO.
- DTERRA INTERNATIONAL LLC
- FAROTTI ESSENZ SRL
- ESSENTIAL OILS OF NEW ZEALAND LTD.
- H. REYNAUD and FILS
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 193 |
| Published | February 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 10886.8 million |
| Forecasted Market Value ( USD | $ 24721.6 million |
| Compound Annual Growth Rate | 8.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
